Virginia § 15.2-5948 Tax revenues of the Commonwealth or any other political subdivision not pledged

Virginia Statutes

§ 15.2-5948 — Tax revenues of the Commonwealth or any other political subdivision not pledged

Virginia § 15.2-5948

Title 15.2Counties, Cities and Towns

Subtitle IVOther Governmental Entities

Ch. 59.3Hampton Roads Regional Arena Authority

This text of Virginia § 15.2-5948 (Tax revenues of the Commonwealth or any other political subdivision not pledged) is published on Counsel Stack Legal Research, covering Virginia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Va. Code Ann. § 15.2-5948 (2026).

Text

Nothing in this chapter shall be construed as authorizing the pledging of the faith and credit of the Commonwealth, or the faith and credit of any other political subdivision of the Commonwealth, for the payment of any bonds. No bonds issued pursuant to § 15.2-5943 shall pledge the full faith and credit of the Commonwealth, nor shall such bonds constitute a debt of the Commonwealth, and the bonds shall so state on their face. Bondholders shall have no recourse whatsoever against the Commonwealth for the payment of principal, interest, or redemption premium, if any, on such bonds.

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Nothing in this chapter shall be construed as authorizing the pledging of the faith and credit of the Commonwealth, or the faith and credit of any other political subdivision of the Commonwealth, for the payment of any bonds. No bonds issued pursuant to § 15.2-5943 shall pledge the full faith and credit of the Commonwealth, nor shall such bonds constitute a debt of the Commonwealth, and the bonds shall so state on their face. Bondholders shall have no recourse whatsoever against the Commonwealth for the payment of principal, interest, or redemption premium, if any, on such bonds.